Slate Auto, an electric vehicle startup backed by Jeff Bezos and Los Angeles Dodgers owner Mark Walter, will announce the price of its low-cost electric car on June 24 and open official pre-orders simultaneously. The first vehicles are expected to be delivered later this year.
The booking threshold has been raised to $300.
Slate sent emails this week to potential customers, suggesting they pay a $50 deposit to reserve a delivery window when the $300 pre-order period begins next month. Reports indicate this $300 deposit is non-refundable.
The company had previously stated that prices would be announced in June. The newly launched FAQ on the booking page indicates that the specific pricing will be released on June 24th.
The starting price description has been adjusted.
The company was founded about four years ago, but it didn't emerge from secrecy and publicly announce its product plans until April 2025. Slate focuses on a low-spec, customizable approach, with the base model convertible from a two-seater pickup truck to a five-seater SUV for an additional fee.
The company had previously advertised that, with the $7,500 federal tax credit included, the base model could be priced below $20,000. However, this tax credit was revoked by the Trump administration and Congress late last year. Since then, Slate has become more cautious in its pricing statements, only stating that the starting price of the new car will be in the mid-range of $20,000.
There are already approximately 160,000 reservations.
Slate's simplified design has garnered some attention from consumers. The company disclosed that since the model's launch last year, over 160,000 potential customers have paid a refundable $50 deposit to reserve their vehicles. However, whether these reservations can be successfully converted into actual orders remains a common challenge for electric vehicle startups.
To expedite mass production and delivery, Slate replaced its CEO in March, with former Amazon Marketplace Vice President Peter Faricy now in charge of the company's operations. Several other members of the company's management team also have Amazon backgrounds.
In terms of funding, Slate announced in April that it had completed a $650 million Series C funding round, bringing its total funding to approximately $1.4 billion. The report mentioned that a significant portion of this funding likely came from TWG Global, the financial company owned by Mark Walter. The extent of Bezos's involvement in subsequent funding rounds remains unclear.
Additional information:TechCrunch previously reported that the administrator of Bezos' family office resigned from the Slate board in May.
